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- The office will have a capacity to seat around 3,000 employees," said another person cited above. ET's separate email queries to both Assotech Realty and transaction partner Cushman & Wakefield remained unanswered, while Birlasoft declined to comment. Located in Sector 135 on Noida Expressway, 1.8-million sq-ft Assotech Business Cresterra is an integrated business park comprising 75,000 sq ft of retail spaces, around 1.6 million sq ft of office spaces across six towers and 190-key serviced suites to be managed by Lemon Tree Hotels.
Assotech Realty has completed the first phase of the project with a total salable area of 1.1 million sq ft, and has started construction of the second phase. Technology firms continued to be the leading driver of demand and contributed around 36% of the overall office leasing volume in Noida in the January to March quarter this year, according to property consultancy Colliers International.CommentQuote0Flag
- Anybody visited site recently and can provide the update on construction ?CommentQuote0Flag
- As per Assotech - BirlaSoft has leased one tower, and in addition (extra from announced 3 lakh sqft) they have given LOI for one more under construction tower. TRR all surrounded by corporate houses.CommentQuote0Flag
- Went to site yesterday ...Builder has made some progress in the common area. between the towers....but general conditions are still pathetic....no U/G parking available for towers O & N ....lot of heavy movement.....trucks & JCB's near towers living areas...some families have moved in these towers......
Though work is going on at site ...but project completion is still at least 2 years away.....CommentQuote2Flag
- Noida Authority asks Today Homes to give timeline for completion of Ridge Residency This 13-acre project, comprising 18 towers with over 1,800 flats, was launched in 2009-10 and its completion was scheduled for 2013-14PTI | June 19, 2017, 18:15 IST
NEW DELHI: The Noida Development Authority today asked realty firm Today Homes and Infrastructure to submit within a week the timeline for completing its much- delayed housing project in Noida.
The Noida authority has been calling builders-buyers meeting for the last two months for stuck housing projects in the city of many developers, including Jaypee Group, Amrapali, among others, to understand the issues and facilitate early completion and registration of flats.
In one of such meetings, the authority today called Today Homes & Infrastructure Pvt Ltd to address the consumers' complaints related to housing project 'Ridge Residency' at Sector 135 in Noida.
This 13-acre project, comprising 18 towers with over 1,800 flats, was launched in 2009-10 and its completion was scheduled for 2013-14.
Buyers raised various issues regarding the project, including delay in possession, offering possession without occupancy certificate and non-completion of promised amenities like water and power connections, and sewage system.
Responding to the demand of the buyers, a senior Noida authority official directed the top management of Today Homes, led by the company's Managing Director GK Gambhir, to furnish within a week the exact timeline for completion of all 18 towers in the project.
The authority told Today Homes officials that giving possession without completion certificate is not permitted under the building bye-laws of Uttar Pradesh.
Gambhir assured the buyers that by next Monday an update will be shared with the residents about the proposed timeline to complete the project in a phased manner. The deadline will also be submitted to the Noida authority.
Vibhor Mathur, one of the buyers present at the meeting, said: "This is a satisfactory start. We thank the authority for taking up the initiative but considering how Today Homes has failed in its commitments in the past, we are sceptical whether the developer will honour its fresh commitment."
He said the authority should keep a tab on whether the builder is keeping its promises being made to buyers.
"Only when it gives us the new timeline and start acting on it, we will be able to say whether this meeting has been fruitful or not," he added.
Another lady, who asked not to be identified, said: "The builder has been defaulting on every account. We booked a flat in 2010 and yet to get the possession. For the first time since the launch of the project, the company MD has come before buyers."
The Delhi-NCR property market has been facing significant delays in completion of housing projects. MJH MSS RKL MKJ
- I had booked 1225 sq ft flat in 2013 on down payment basis at a rate of 4000 per sq ft on 7th floor facing park plus additional charges of floor and park facing and covered car charges Rs 3 lakhs and other usual charges in tower A.. The net I will have to pay around Rs 5000sq ft. Roughly the flat will cost me Rs. 60lakhs. I have not taken any loan on the flat. Can anyone advice me what will I get if I dispose off the same in resale.CommentQuote0Flag
- thanks. I think I will wait till possession. With RERA I may also get 10% interest on my investmentin respect of the delays.CommentQuote0Flag
- Have they renamed Tower B to A and vice versa? The pics on their website seem to convey...:)CommentQuote0Flag
- As per RERA declaration..The completion date for the project has been extended to 2021...Another 4 years....The project started in 2009....That would mean 12 years to complete .....The work pace on-site has reduced drastically...As he bow plans to complete it by 2021....CommentQuote0Flag
- is there any provision in RERA by which we can withdraw our allotment and get back our paid money with interest?CommentQuote0Flag
- what is the expected price of 1225 unit in tower j park facing 12 floor....???CommentQuote0Flag
- No Buying/Selling Solicitations: IREF is NOT meant for buying or selling real estate. Advertisements, solicitations for real estate services or business are strictly prohibited in threads/posts or Private Message Boards.CommentQuote0Flag
- It seems that on site work on common areas has stopped again by builder.....CommentQuote0Flag
- Hi Guys, I got to know that Noida authority is now issuing OC flat wise and instead of tower wise. Can any one throw some light on this?CommentQuote0Flag
Builder has completely stopped work in this project. I can see most of the towers from my office window.
Now again it seems to be a deserted project.CommentQuote0Flag